Global Money Week: FirstBank Promotes Financial Literacy


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Nigeria’s Most Valuable Bank Brand, First Bank of Nigeria Limited, is joining the rest of the world in celebrating the 2016 Global Money Week to engage children and youths in the rudiments of financial literacy.

This was contained in a statement signed by Group Head, Marketing and Corporate Communications, Folake Ani-Mumuney, and made available to The Herald.

The 2016 Global Money Week is scheduled to take place from the 14th – 20th of March, 2016 and this year marks the 5th anniversary of the annual event with the theme ‘Take Part. Save Smart!

FirstBank as part of its Corporate Sustainability and Responsibility initiatives commenced the FutureFirst Programme to empower secondary school students between 13 to 17 years with the knowledge of building fulfilling careers and financial literacy.

In alignment with the CBN Financial Literacy Day and as part of activities to commemorate the Global money week, FirstBank has adopted Harmony Secondary School, Lokoja to teach the students the basics of money and empower them with the financial knowledge they need to be relevant in the world global economy.

The Bank’s Group Executive – Retail Banking North, Mr Abdullahi Ibrahim will lead FirstBank’s delegation to Harmony Secondary School, Lokoja on March 17, 2016.

The CBN Financial Literacy Day is designed as a core part of the ‘Framework for Financial Literacy in Nigeria’ aimed at ensuring financial inclusion for the unbanked.

The Financial Literacy framework is also aimed at enabling the Nigerian population know, understand and develop the ability to evaluate financial products/services in the financial markets, thus decreasing the number of Nigerians that do not have access to financial services from 46.3% to 20% by the year 2020.

In addition, financial literacy would enable financial service providers understand the needs of their customers, products and associated risks.

According to the Bank’s Group Executive – Retail Banking North, Mr Abdullahi Ibrahim, FirstBank is firmly committed to the achievement of Financial Inclusion in Nigeria and would continue to work towards this aspiration by extending banking services to under-banked, businesses, communities and individuals across the country with our extensive network of branches and alternative service channels.”

Beyond this, we recognize that Financial Literacy is a key enabler in our quest for Financial Inclusion and that we must begin by ensuring that our children are properly empowered with a sound financial education”.

“As the world progresses towards ensuring that every child will have access to financial services, financial awareness through education, a reliable source of income, and the will to save, FirstBank is committed to assisting the Nigerian child and young adult build a prosperous future by extending financial education and services to them early in life”, he said.

Beyond the financial literacy day event, FirstBank will also be collaborating with the CBN on a Financial Literacy Summit/Financial Literacy Fair & Exhibition that would provide opportunities for visiting students to learn about the Bank’s products that are strictly targeted at the youth segment.

About FirstBank

First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc, is Nigeria’s leading financial services institution by total assets and gross earnings and one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa).

Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on fundamentals of good corporate governance, strong liquidity, risk management and strong capitalization.

FirstBank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,500 ATM’s and over 9 million customer accounts.  The Bank provides a comprehensive range of financial services and has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DR Congo, FBNBank Ghana, FBNBank The Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.

FirstBank is the recipient of many awards. The Bank has been named “The Best Bank Brand in Nigeria” five times in a row – 2011, 2012, 2013, 2014 and 2015 – by the globally renowned “The Banker Magazine” of the Financial Times Group. FirstBank’s brand purpose is to always put its stakeholders, customers and partners at the heart of its business, even as it is poised to standardize customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision “To be the partner of first choice in building your future”. The brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on the FirstBank’s inherent values of passion, partnership and people, to position its customers first in every respect.

For four consecutive years, 2012, 2013, 2014, and 2014 FirstBank was named the “Best Retail Bank in Nigeria” by the Asian Banker International Excellence in Retail Financial Services Awards. Other recent awards include the “Best Bank in Nigeria” in the Euromoney Awards for Excellence, “Best Bank in West Africa” and “Most Innovative Bank in Africa” in the African Banker Awards, “Best Bank in Nigeria” in the EMEA Finance African Banking Awards for the fourth time, “Best Foreign Exchange Services in Africa” in the EMEA Finance Treasury Services Awards, “Best Banking Group in Nigeria” by World Finance Banking Awards, and “Best Financial Reporting Company” by Africa Investor. 

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